Record sales at auction

THE buyers at the recent prestigious 37th Nederburg wine auction in Paarl participated with gusto, notching up a new record price for a South African wine, higher prices in general and a total of R6,133 million in sales overall.

The final figure was up eight percent from the R5,7 million fetched in 2010, with about 19% fewer cases on offer this year.

All 4 203 cases on offer were sold, with the auction generating significant interest from international buyers who were responsible for 46% of the overall wine sales, up from 30% last year.

The highlight was the record R68 000 paid for a six-bottle case of Monis Collectors Port 1948, bought by Nigerian businessman and importer of wine, Obi Josephat Ndibe.

This trumped the previous top price of R62 000, which Ndibe paid at the 2010 auction for six bottles of 1964 Nederburg Port.

The auction organisers said there is a new appreciation for old and scarce South African red and fortified wines. This led to an overall increase in prices achieved in both these categories.

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